Market roundup: Sensex, Nifty end in red for third day as financials drag; here are top five losers, gainers

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Both Sensex and Nifty ended in the red for the third consecutive day on Tuesday, tracking losses in financial stocks despite a firm trend in global markets.

The 30-share BSE Sensex ended 31.12 points or 0.06 percent lower at 50,363.96. The broader NSE Nifty slipped 19.05 points or 0.13 percent to close at 14,910.45.

The top gainers for the day included Asian Paints, Dr Reddy’s Labs, HCL Technologies, HUL and TCS. Cipla, Tata Steel, ICICI Bank, BPCL and L&T were among major losers on Tuesday.

Nifty 50

In the broader Nifty, Asian Paints, Dr Reddy’s, HUL, HCL Tech, TCS and UltraTech Cement were among the gainers, spurting up to 4.87 percent. Here are the top five gainers and losers in the 50-share index.

Top 5 gainers:

• Asian Paints: The shares witnessed a gain of 4.70 percent and closed at Rs 2,468.60.
• Dr Reddy’s: Shares of the company rose by 2.58 percent to end at Rs. 4,449.70
• Hindustan Unilever Limited: The company saw a rise of 1.59 percent in its shares and ended at Rs 2,244.05
• HCL Technologies Limited: It closed at Rs 1,008.05 with a rise of 1.58 percent in its shares.
• ITC LIMITED: The company closed at Rs 208.35 after witnessing a gain of 1.41 percent.

Top five losers:

• CIPLA Limited: The shares fell at 1.57 per cent to end at Rs 792.85.
• Tata Steel: The company closed at Rs 725.00 after witnessing a fall of 1.55 percent in shares.
• ICICI Bank: The lender ended the day at Rs 594.60, after witnessing a fall of 1.47 percentage in shares.
• State Bank Of India: The shares fell at 1.30 percent to end at Rs 378.90.
• Bharat Petroleum Corporation Limited: The company closed at Rs 455.00 with a 1.21 percent fall in shares.

BSE Sensex

L&T was the top loser in the Sensex pack, shedding 1.56 percent, followed by ICIC Bank, SBI, HDFC Bank, HDFC, Axis Bank, Kotak Bank and Bajaj Finserv. BSE bankex, finance, metal, realty and capital goods indices fell up to 1.03 percent, while IT, teck, telecom and FMCG ended on a positive note. Broader BSE midcap and smallcap indices rose up to 0.40 percent.

Here are the top five gainers and losers in the BSE Sensex:

Top five gainers:

• Asian Paints: The company saw a rise of 4. 87 percent in its shares and ended at Rs 2,470.80.
• Dr Reddy’s Laboratories Limited: The pharmaceutical giant share rose 2.44 percent and closed at Rs 4,448.85.
• Hindustan Unilever Limited: The subsidiary of Unilever saw a 1.48 percent rise in shares and closed at Rs 2,243.80.
• HCL Technologies Limited: It closed at Rs 1006.50 with a rise of 1.65 percent in its shares.

Tata Consultancy Services: Shares of TCS jumped 1.38 percent to end the day at Rs 3,108.70

Top five losers:

• Larsen & Toubro Ltd: The Construction engineering company closed the day at Rs1,461.00 with a fall of 1.56 percent in shares.
• ICICI Bank: The lender saw a fall of 1.38 percent in shares to close the day at Rs 594.90.
• State Bank of India: The shares fell by1.37 per cent to close at Rs 378.45.
• HDFC Bank Ltd: The lender saw a 1.07 percent fall in shares, causing it to close at Rs1512.80.
• Housing Development Finance Corporation Ltd: The day ended at Rs 2,510.75, with a fall of 0.96 percent in shares.

Domestic equities gave up initial gains and traded flat towards the final hours of the day despite favourable cues from global equities, said Binod Modi – Head Strategy at Reliance Securities.

“Financials once again dragged the markets. Notably, IT stocks were in focus today mainly on expectations of sustained earnings momentum in 4QFY21E and benefits from a possible fall in INR.

“In our view, increasing concerns with regards to the resurgence of COVID-19 cases in various parts of the country and resulted restrictions could be a near term risk for domestic markets. Additionally, volatile bond markets and soaring inflation will continue to weigh on investors’ sentiments,” he added.

World stocks were in the positive terrain ahead of the meeting of the US Federal Reserve and other central banks, with investors wagering on a continuation of dovish policy measures. In the rest of Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended in the green.

Stock exchanges in Europe were also trading with gains in mid-session deals. Meanwhile, the global oil benchmark Brent crude was trading 1.61 percent lower at $67.77 per barrel. The rupee pared its initial gains and depreciated 9 paise to settle at 72.55 against the US dollar. Foreign institutional investors were net sellers in the capital markets as they offloaded shares worth Rs 1,101.35 crore on Monday, according to exchange data.

With inputs from PTI